JP Morgan in bribery probe over Chinese staff

An investigation has been launched by the Securities and Exchange Commission's anti-bribery unit in the United States, according to the Telegraph. A confidential American government document outlines details of the probe, according to reports in the US, allegedly showing that JP Morgan hired Tang Xiaoning, the son of Tang Shuangning, a former Chinese banking regulator. Mr Tang Shuangning is now the chairman of the China Everbright Group, a state-controlled financial conglomerate. After his son joined JP Morgan, the investment bank won several key deals from the Chinese corporation,...